EB Watch List Update Report

Dear Members:. Market Update: Just a few days ago the Dow was below all key technical levels with blue chips in the doldrums. Now today all of the major indexes are higher with the Dow once again leading the way. The recent attraction to non-tech stocks is somewhat deceptive; traders still much prefer stocks in the NASDAQ as it moves within striking range of its all time high. And the S&P has yet to crack 2800 though it's much closer today than last week when it looked technically challenged. But stocks might have gotten a bit ahead of themselves even though none of the major indexes can be classified as technically overbought and with the VIX showing trader confidence has risen. While the NASDAQ has been King of the Hill for a long time now the bulls know they need to move the S&P back above 2800 to broaden out the rally as a close above that level could prove to be problematic for the shorts. But with the S&P up over 3.5% in just a few trading days I wouldn't mind seeing a pullback here which could set up better reward to risk opportunities. And at this point it wouldn't take much more of a rise for the market to move into overbought territory. We're only a few days away from the "kickoff" of earnings season on Friday. Optimism is high here and we'll see if that continues or if some profit taking might kick in soon. Companies reporting earnings Today (July 10) Before Market Opens: PEP After Market Closes: NONE Companies reporting earnings tomorrow (July 11) Before Market Opens: FAST After Market Closes: None ADDITIONS TO WATCH LIST Will keep you posted on any additional trade alerts. Wouldn't mind seeing a pullback before getting aggressive on the long side. BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None LONGS: Large Cap Watch List EXPD - Stock is lower by almost 1% as it struggles to clear its 20 day, currently at $73.40. In fact it's retesting its 50 day, currently at $72.49 and a close below that level could lead to more selling. Will keep a close eye on the stock and adjust the stop if necessary. Mid Cap Watch List GDOT - Stock opened this morning at $77.95 so we issued a profit alert and it will come off the Watch List. GREAT TRADE! Small Cap Watch List None Deletions from Watch List GDOT At your service, John Hopkins EarningsBeats